Hana Bank, Lotte E&C partner to launch asset management service for the elderly

Hana Bank has signed a deal with Lotte Engineering & Construction jointly launch an asset management company that will offer special services to the elderly or senior customers. The companies noted that the number of old people is growing in South Korea as the population is aging fast.

According to The Korea Times, Hana Bank and Lotte E&C will be providing a complete service for the elderly people’s asset management. The service is available to those who will live in VL Le West, a premium senior residential facility that was built by the construction arm of the Lotte Group.

The premier senior residence is also the very first high-end residential space for the elderly, and it was built within Seoul’s Magok Industrial Complex. For the residents, Hana Bank will put forward exclusive asset management plans for each one of them.

Some of the services that they can expect are private asset management and inheritance consultation for their assets. The bank’s Living Trust Center has skilled financial consultants who will be tasked to provide one-on-one consulting services for the senior residents, and they will cover a broad range of areas including real estate, tax, financial products, and law.

Moreover, Hana Bank said the expert consultants would also do their best to work around and meet the requirements of each client. They will make sure that the customized program will cover all the needs and everything else that has been requested by the Lotte VL Le West resident.

"Hana Bank and Lotte Construction & Engineering will generate synergies as a partner for the launch of the differentiated service amid an aging society," Park Sung Ho, the bank’s chief executive officer, said in a statement. "We will continue making more efforts to diversify our service lineup for senior citizens and provide optimized financial solutions for them."

Hana Bank is one of the leading financial institutions in South Korea, and it is using its expertise in the financial business to help the elderly in managing their assets. targeting the elderly. Through the Living Trust asset management center, which it built in April 2010, it will offer different financial trust products for senior citizens so they can live worry-free.

Photo by: Lotte E&C TV/YouTube